Info 491, Trash....

Which term represents the monies a company earns by selling its products and services?

Revenue

Profit & loss statement includes what?

Revenues & Expenses

46.All of the above

SAP can utilize which of the following media to communicate with a vendor?

Which is not a mode of acquiring an asset for a company

Selling Equipment, Acquiring without a vendor(?)

21.False

System that support end-to-end processes are called business processes.

Which type of asset has a physical form?

Tangible asset

63.False

Tangible assets are non-physical items such as trademarks and patents.

An organization can possess which of the following types of assets?

Tangible, Intangible, Financial

25.False

The financial accounting process focuses on internal reporting to manage costs and revenues.

24.True

The fulfillment process(sell)consists of all the steps involved in selling and delivering the products to the organization's customers.

54.True

The general ledger is used to record the financial impacts of business process steps.

16.The Client

The highest organizational level in SAP ERP is?

23.False

The material planning process is used to maintain internal assets such as machinery and to delivery after-sales customer services such as repairs.

26.True

The procurement process includes all the tasks involved in acquiring needed materials.

59.False

A financial accounting document is a general ledger account that consolidates data from a group of sub-ledger accounts such as customers and vendors. False

Which process is used to manage money owed by customers for goods and services purchased from the company?

Accounts receivable accounting

61.True

Accounts receivable accounting is concerned with customers.

What are the most common transaction types that occur during the life of an asset?

Acquisition, Depreciation, Retirement

Which of the following does balance sheet include?

Assets & Liabilities

Balance sheet accounts are grouped into which of the following categories?

Assets, Liabilities, Equity

Reporting in financial accounting is broadly divided into which of the following 2 categories?

Displaying account information, generating financial statements

Which term represents the costs associated with creating and selling products and services?

Expenses

62.False

Intangible assets are physical items such as buildings, machinery and computers.

What is true about business area?

It is an internal division of an enterprise, it is used for external reporting, associated with SEVERAL company codes

Which term represents what a company owes to others, including money owed to vendors and loans from financial institutions

Liabilities

52.False

Management accounting, or controlling (CO) is intended primarily for audiences outside the organization.

Which best describes the operative chart of accounts?

Used to enable companies to meet special country-specific reporting requirements (?)

9.Lifecycle Data Management

Which process supports the design and development of products from the initial product idea stage through the discontinuation of the product?

10.Financial Accounting

Which process tracks the financial impact of process steps with the goal of meeting legal reporting requirements?

8.Material Planning

Which process uses historical data and sales forecasts to plan which materials will be procured and produced?

What are the primary ways in which an asset can be acquired?

internally by production, externally by vendor

Which of the following is used to implement multiple ledgers and use each ledger for different purposes?

Parallel Accounting

Which process is concerned with recording data associated with bank statements?

Bank ledger accounting

19.One

How many company codes can a plant belong to? One

Which type of asset has a non-physical form?

Intangible Asset

56.True

A chart of accounts (COA) is an ordered listing of accounts that comprise a company's general ledger.

42.Determining store locations within the plant

A purchasing organization is involved in all of the following operations except?

58.False

A reconciliation account records the impact of a transaction step on financial accounting.

57.True

Account currency determines the currency in which all the transactions are recorded.

The COA segment of the COA data includse which of the following?

Account number, account group, short text, long text

50.True

Accounting processes are broadly divided into two main categories. Financial accounting and management accounting.

Which of the following is a KEY process in financial accounting?

Accounts Receivable Accounting

28.False

Accounts Receivable is used to track money that is owed to vendors.

60.True

Accounts payable accounting is concerned with vendors.

53.False

Accounts payable accounting is not associated with the procurement process.

27.False

Accounts payable is used to track money owed by customers.

All transaction types that occur during the life of an asset except:

Allocation. ( These occur during the life of an asset: acquisition, depreciation,retirement.)

Which attributes are present in the FI document items?

Amount, Posting Key

22.False

An enterprise system is a set of tasks or activities that produce desired outcomes.

Which term represents what a company owns, such as cash, inventory of materials, and buildings?

Assets

32.Business Areas

Blank are internal divisions of an enterprise that are used to define areas of responsibility or to meet the external reporting requirements of an enterprise segment.

29.Financial Accounting

Blank is concerned with recording the financial impacts of business processes as they are executed.

Financial statements can be generated from which of the following?

Both operative and country-specific COAs

____ are internal divisions of an enterprise that are used to define areas of responsibility or to meet the external requirements of an enterprise segment.

Business Areas

55.False

Business areas are external departments of an enterprise that are used to define areas of responsibility or to meet the internal requirements of a division.

Which term refers to an ordered listing of accounts that comprise a company's general ledger?

Chart of Accounts (COA)

What does COA data include?

Client segment, company code segment

Tangible assets can include which of the following?

Computers, Production Machinery

Which of the following records the impact of a transaction step on financial accounting?

Financial accounting document

51.True

Financial accounting is concerned with recording the financial impacts of business processes as they are executed.

Which of the following is used to report data needed to meet legal and regulatory requirements?

Financial statement

44.Consumable materials

Materials that are acquired to be used within the organization are referred to as?

Which of the statements regarding reconciliation accounts is not true?

None of the above (?)

Which element is not part of the typical company code data in general ledger accounts?

None of the above (tax related data, field status groups, line item display, reconciliation account data)

Which are types of chart of accounts?

Operative COA, Country Specific COA, Group COA

From which of the following can financial statements be generated?

Operative chart of accounts, country specific chart of accounts

49.Logistics Information systems

Purchasing information systems are a component of which system?

Which term is a general ledger account that consolidates data from a group of related sub-ledger accounts?

Reconciliation account

Which of the statements about reconciliation accounts are true?

Reconciliation account for customers is accounts receivable, reconciliation account for vendors is accounts payable

41.The place withing a plant where materials are kept until they are needed.

What is storage location?

13.Payment

What is the final step of the procurement process?

14.Request Production

What is the first step of the production process?

4.All of the above

Which of the following Statements about business processes is true?

11.Project Management

Which process is used to plan and execute large projects such as the construction of a new factory or the production of complex products such as airplanes?

47.All of the above

Which of the following is a form of data within the goods receipt step?

48.Three-way match

Which of the following is a form of invoice verification?

30.Accounts Receivable Accounting

Which of the following is a key process in financial accounting?

43.Purchasing Info records

Which of the following is an intersection or combination of material data and vendor data?

15.Inventory and warehouse management (IWM)

Which of the following is concerned with the storage and movement of materials?

17.Organizational Data

Which of the following is used to represent the structure of an enterprise?

20.Material Master

Which of the following master data is used in numerous processes?

37.Financial Accounting document

Which of the following records the impact of a transaction step on financial accounting?

45.A plant can be assigned to more than one company code

Which of the following statements about a plant is not true?

18.Plant

Which of the following terms refers to an organizational element that performs multimple functions and is relevant to several processes?

40.Manufacturing Plant

Which one of the following is not a type of organizational data that is utilized in the procurement process?

12.Human Capital Management (HCM)

Which process focuses on people within an organization and includes functions such as recruiting, hiring, training and benefits management?

7.Production Process

Which process involves the actual creation of the Products?

31.Bank Ledger Accounting

Which processes is concerned with recording data associated with bank statements?

3.Enterprise system

Which system supports business processes end to end?

36.Sub-ledger

Which term is a general ledger account that consolidates data from a group of related sub-ledger accounts?

2.Cross Functional

Which term refers to a system in which workers complete their tasks in separate departments without regard to the consequences for the other components of the process?

6.Procurement Process

Which term refers to all of the activities involved in buying or acquiring the materials used by the organization, such as raw materials needed to make products?

33.Chart of Accounts

Which term refers to an ordered listing of accounts that compromises a company's general ledger?

1. Functional structure

Which term refers to business processes that are not executed by a single group or function?

5.Business Process

Which term represents a set of tasks or activities that produce desired outcomes?

35.Liabilities

Which term represents what a company owes to others, including money owed to vendors and loans from financial institutions?

34.Assets

Which term represents what a company owns, such as cash inventory of materials, and buildings?

39.Intangible asset

Which type of asset has a non-physical form?

38.Tangible asset

Which type of asset has a physical form?

Which of the following are common depreciation areas used in the US?

book depreciation, cost accounting depreciation, legal depreciation